all-in-one privacy solution":["Proton Unlimited ist eine All-in-One-Datenschutzlösung"],"Black Friday":["Black Friday"],"No ads. Privacy by default.":["Keine Werbung. Privatsphäre als Standard."],"People before profits":["Menschen sind uns wichtiger als Gewinne"],"Security through transparency":["Sicherheit durch Transparenz"],"The best Proton Mail ${ BLACK_FRIDAY } deals":["Die besten Proton Mail-Angebote zum ${ BLACK_FRIDAY }"],"The world’s only community- supported email service":["Der weltweit einzige von der Community unterstützte E-Mail-Dienst"]},"specialoffer:limited":{"${ hours } hour":["${ hours } Stunde","${ hours } Stunden"],"${ hoursLeft }, ${ minutesLeft } and ${ secondsLeft } left":["Nur noch ${ hoursLeft }, ${ minutesLeft } und ${ secondsLeft }"],"${ minutes } minute":["${ minutes } Minute","${ minutes } Minuten"],"${ seconds } second":["${ seconds } Sekunde","${ seconds } Sekunden"],"Limited time offer":["Zeitlich befristetes Angebot"]},"specialoffer:listitem":{"Create multiple addresses":["Erstelle mehrere Adressen"],"Hide-my-email aliases":["Hide-my-email-Aliase"],"Quickly unsubscribe from newsletters":["Newsletter schnell abbestellen"],"Use your own domain name":["Verwende deine eigene Domain"]},"specialoffer:logos":{"As featured in":["Vorgestellt in"]},"specialoffer:metadescription":{"Get an encrypted email that protects your privacy":["Nutze einen verschlüsselte E-Mail-Dienst, der deine Privatsphäre schützt"]},"specialoffer:metatitle":{"Proton Mail Black Friday Sale - Up to 40% off":["Proton Mail Black Friday-Angebot – Bis zu 40 % Rabatt"]},"specialoffer:newmetadescription":{"Get up to 40% off Proton Mail subscriptions this Black Friday. Find great deals on our secure end-to-end encrypted email plans.":["Erhalte an diesem Black Friday bis zu 40 % Rabatt auf Proton Mail-Abonnements. Mache tolle Schnäppchen bei unseren sicheren, Ende-zu-Ende-verschlüsselten E-Mail-Abonnements."]},"specialoffer:newmetatitle":{"Proton Mail Black Friday sale | Up to 40% off secure email":["Proton Mail-Black-Friday-Angebot | Bis zu 40 % Rabatt auf sichere E-Mails"]},"specialoffer:note":{"* Billed at ${ TOTAL_SUM } for the first year":["* Zum Preis von ${ TOTAL_SUM } im ersten Jahr"],"*Billed at ${ TOTAL_SUM } for the first 2 years":["*Zum Preis von ${ TOTAL_SUM } in den ersten zwei Jahren"],"30-day money-back guarantee":["30-tägige Geld-zurück-Garantie"],"Billed at ${ TOTAL_SUM } for the first 2 years":["Zum Preis von ${ TOTAL_SUM } in den ersten zwei Jahren"],"Billed at ${ TOTAL_SUM } for the first year":["Zum Preis von ${ TOTAL_SUM } im ersten Jahr"],"You save ${ SAVE_SUM }":["Du sparst ${ SAVE_SUM }"]},"specialoffer:off":{"${ PERCENT_OFF } off":["− ${ PERCENT_OFF }"]},"specialoffer:testimonial":{"I love my ProtonMail":["Ich liebe mein ProtonMail"],"My favorite email service":["Mein Lieblings-E-Mail-Dienst"],"Thanks Proton for keeping us all safe in the complicated internet universe.":["Danke Proton, dass du uns alle im komplizierten Internet-Universum beschützt."],"You get what you pay for. In the case of big tech, if you pay nothing, you get used. I quit using Gmail and switched to @ProtonMail":["Du bekommst, wofür du bezahlst. Wenn du nichts bezahlst, wirst du bei der Nutzung von Big Tech ausgenutzt. Ich habe Gmail aufgegeben und bin zu @ProtonMail gewechselt"]},"specialoffer:time":{"Days":["Tage"],"Hours":["Stunden"],"Min":["Min."]},"specialoffer:title":{"And much more":["Und vieles mehr"],"Make your inbox yours":["Übernimm volle Kontrolle über deinen Posteingang"],"Safe from trackers":["Sicher vor Trackern"],"Stay organized":["Sorge für Ordnung"],"Black Friday email deals":["E-Mail-Angebote zum Black Friday"],"Don’t just take our word for it":["Verlasse dich nicht nur auf unser Wort"],"Our story":["Unsere Geschichte"],"Transfer your data from Google in one click":["Übertrage deine Daten von Google mit einem Klick"]},"specialoffer:tooltip":{"Access blocked content and browse privately. Includes ${ TOTAL_VPN_SERVERS }+ servers in ${ TOTAL_VPN_COUNTRIES }+ countries, connect up to 10 devices, access worldwide streaming services, malware and ad-blocker, and more.":["Greife auf blockierte Inhalte zu und surfe privat. Umfasst ${ TOTAL_VPN_SERVERS } Server in über ${ TOTAL_VPN_COUNTRIES } Ländern, die Verbindung \nvon bis zu 10 Geräten, weltweite Streaming-Dienste, Malware- und Werbeblocker und mehr."],"Easily share your calendar with your family, friends or colleagues, and view external calendars.":["Teile deinen Kalender ganz einfach mit Verwandten, Freunden oder Kollegen und rufe externe Kalender auf."],"Includes support for 1 custom email domain, 10 email addresses, 10 hide-my-email aliases, calendar sharing, and more.":["Beinhaltet Unterstützung für eine eigene E-Mail-Domain, 10 E-Mail-Adressen, 10 „hide-my-email“-Aliasse, Kalenderfreigabe und mehr."],"Includes support for 3 custom email domains, 15 email addresses, unlimited hide-my-email aliases, calendar sharing, and more.":["Beinhaltet Unterstützung für 3 benutzerdefinierte E-Mail-Domänen, 15 E-Mail-Adressen, unbegrenzte „hide-my-email“-Aliase, Kalenderfreigabe und mehr."],"Manage up to 25 calendars, mobile apps, secured with end-to-end encryption, 1-click calendar import from Google, and more.":["Verwalte bis zu 25 Kalender, Ende zu Ende verschlüsselte mobile Apps, 1-Klick-Kalenderimporte von Google und vieles mehr."]},"Status banner":{"Learn more":["Mehr erfahren"],"Please note that at the moment we are experiencing issues with the ${ issues[0] } service.":["Bitte beachte, dass wir im Moment Probleme mit dem Dienst ${ issues[0] } haben."],"We are experiencing issues with one or more services at the moment.":["Im Moment gibt es Probleme mit einem oder mehreren Diensten."]},"Status Banner":{"At the moment we are experiencing issues with the Proton VPN service":["Im Moment gibt es Probleme mit dem Proton VPN-Dienst"],"Learn more":["Mehr erfahren"]},"suggestions":{"Suggestions":["Vorschläge"]},"Support":{"Sub category":["Unterkategorie","Unterkategorien"]},"Support article":{"${ readingTime } min":["${ readingTime } Min.","${ readingTime } Min."],"Category":["Kategorie","Kategorien"],"Didn’t find what you were looking for?":["Hast du nicht gefunden, wonach du gesucht hast?"],"General contact":["Allgemeiner Kontakt"],"Get help":["Hilfe erhalten"],"Legal contact":["Kontakt für Rechtliches"],"Media contact":["Kontakt für Medien"],"Partnerships contact":["Kontakt für Partnerschaften"],"Reading":["Lesen"]},"Support troubleshooting":{"App version":["App-Version"],"Browser":["Browser"],"Check if this helps":["Schau, ob das hilft."],"Choose a product":["Produkt auswählen"],"Did this solve your issue?":["Hat dies dein Problem gelöst?"],"Faster assistance is just a few clicks away":["Schnellere Hilfe ist nur ein paar Klicks entfernt"],"How can we help?":["Wie können wir dir helfen?"],"No, contact support":["Nein, Support kontaktieren"],"Please fill out one field after another":["Bitte fülle ein Feld nach dem anderen aus"],"Please make your selections":["Bitte triff deine Auswahl"],"Proton account":["Proton-Konto"],"Proton for Business":["Proton for Business"],"Thank you for your feedback":["Danke für dein Feedback"],"What can we help with?":["Wobei können wir dir helfen?"],"Yes":["Ja"]},"support_modal_search_query":{"Search query":["Anfrage suchen"]},"support_search_button":{"Search":["Suchen"]},"support_search_i_am_looking_for":{"I'm looking for":["Ich suche"]},"SupportForm":{"For a faster resolution, please report the issue from the Bridge app: Help > Report a problem.":["Damit das Problem schneller gelöst werden kann, melde es bitte über die Bridge-App: Help > Report a problem (Hilfe > Problem melden)."],"Information":["Informationen"]},"SupportForm:option":{"Account Security":["Kontosicherheit"],"Contacts":["Kontakte"],"Custom email domain":["Benutzerdefinierte E-Mail-Domain"],"Email delivery and Spam":["E-Mail-Zustellung und Spam"],"Encryption":["Verschlüsselung"],"Login and password":["Anmeldung und Passwort"],"Merge aliases and accounts":["Zusammenführung von Aliassen und Konten"],"Migrate to Proton":["Migration zu Proton"],"Notifications":["Benachrichtigungen"],"Other":["Sonstiges"],"Plans and billing":["Abonnements und Abrechnung"],"Proton for Business":["Proton for Business"],"Sign up":["Registrierung"],"Storage":["Speicher"],"Users, addresses, and identities":["Benutzer, Adressen und Identitäten"]},"SupportForm:optionIntro":{"Select a topic":["Thema auswählen"]},"swiss_baseed_feature":{"Swiss based":["In der Schweiz ansässig"]},"Testimonial":{"Awards":["Auszeichnungen"],"Customers":["Kunden"],"Featured":["Empfohlen"],"Go to testimonial source":["Zur Referenzquelle wechseln"],"Reviews":["Bewertungen"],"Videos":["Videos"]},"Text":{"If you need help, check out our ${ supportLink }.":["Hilfe erhältst du in unserem ${ supportLink }."],"The page you’re looking for might have been removed, or it could be an\nold link.":["Die von dir gesuchte Seite wurde möglicherweise entfernt, oder es könnte sich um einen alten Link handeln."]},"Title":{"On this page":["Auf dieser Seite"],"Related articles":["Verwandte Artikel"],"Share ${ thisPage }":["${ thisPage } teilen"],"Thank you!":["Vielen Dank!"],"this page":["diese Seite"]},"Tooltip":{"More information":["Weitere Informationen"]},"tooltip_vpn":{"Access blocked content and browse privately. Includes ${ TOTAL_VPN_SERVERS }+ servers in ${ TOTAL_VPN_COUNTRIES }+ countries, highest VPN speed, ${ TOTAL_VPN_CONNECTIONS } VPN connections, worldwide streaming services, malware and ad-blocker, and more.":["Greife auf blockierte Inhalte zu und surfe privat. Enthält über ${ TOTAL_VPN_SERVERS } Server in mehr als ${ TOTAL_VPN_COUNTRIES } Ländern, höchste VPN-Geschwindigkeiten, ${ TOTAL_VPN_CONNECTIONS } VPN-Verbindungen, weltweite Streaming-Dienste, Malware- und Werbeblocker und mehr."]},"wallet_signup_2024:Action":{"Get Proton Wallet":["Hol dir Proton Wallet"]},"wallet_signup_2024:Homepage hero product link title":{"Wallet":["Wallet"]},"wallet_signup_2024:Homepage product navigation bar":{"Wallet":["Wallet"]},"wallet_signup_2024:menu item":{"Bitcoin guide":["Bitcoin-Leitfaden"],"Proton Wallet news":["Proton Wallet-Neuigkeiten"],"Proton Wallet support":["Proton Wallet-Support"]},"wallet_signup_2024:Pricing":{"Includes everything in Proton Unlimited and":["Umfasst alles, was in Proton Unlimited enthalten ist und"],"Limited availability":["Begrenzte Verfügbarkeit"],"The easiest way to securely own, send, and receive Bitcoin":["Der einfachste Weg, Bitcoin sicher aufzubewahren, zu senden und zu empfangen"]},"wallet_signup_2024:ProductRange":{"Discover Proton Wallet":["Proton Wallet entdecken"],"Store and transact Bitcoin privately with an encrypted self-custody wallet.":["Bewahre Bitcoins auf und überweise sie auf private Weise mit einer verschlüsselten, selbstverwahrenden Wallet."]},"wallet_signup_2024:wallet bitcoin":{"Learn about Bitcoin, the Internet's value network.":["Erfahre mehr über Bitcoin, das Wertnetzwerk des Internets."]},"wallet_signup_2024:wallet overview":{"Ensure you're always in control of your Bitcoin.":["Stelle sicher, dass du immer die Kontrolle über deine Bitcoins behältst."]},"wallet_signup_2024:wallet security":{"The encrypted, open-source wallet that puts you in control.":["Die verschlüsselte Open-Source-Wallet, die dir die Kontrolle gibt."]}}},"base":"blog","cdn":{"enabledForAssets":true,"enabledForImages":false,"url":"https://pmecdn.protonweb.com/"},"unleashApi":"https://account.proton.me/api"};
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Bitcoin is a digital currency (also known as BTC) that operates without a central authority or intermediary to facilitate transactions. Instead, those transactions are verified by distributed nodes on the Bitcoin network and added to a public ledger called a blockchain.
This process and the associated jargon can be intimidating for newcomers. But anyone can use Bitcoin and understand how Bitcoin works. All you need to know are a few key concepts.
This article explains how Bitcoin works in a way that anyone can understand. For more information, check out our Bitcoin guide for new users(neues Fenster). At the end of the article, we’ll share simple steps to get started transacting with BTC.
BTC is created through a process called mining, in which computers solve complex mathematical challenges for the chance to be rewarded with newly minted BTC. BTC is the incentive for carrying out these challenges, which require substantial computational power.
Bitcoin mining explained
Bitcoin mining is not like mining for gold and silver, but it does require an investment of energy and tools. The computational difficulty of extracting value from the Bitcoin network is akin to the effort that makes precious metals scarce and valuable.
Mining relies on a concept called proof of work. Here’s how it works:
When people send BTC to each other, those transactions are grouped together into blocks and broadcast online to the Bitcoin network. Before these blocks can be added to the blockchain (the public ledger of all transactions discussed below), they need to be verified through a computationally intense process called mining.
Miners are typically companies that invest heavily in computers powerful enough to work out the solution to hash functions, which you can learn more about here(neues Fenster). The first miner to solve the problem gets the right to add the block to the blockchain and is rewarded with BTC.
As miners solve the problem one at a time and add more blocks to the chain, the validity of each previous block is confirmed. The updated blockchain is then propagated throughout the Bitcoin network. Because the blockchain exists on many computers around the world, it’s virtually impossible to tamper with the ledger, making transactions highly secure.
The original creators of Bitcoin wanted to ensure new blocks are added to the blockchain roughly every 10 minutes and prevent inflation due to increasing BTC supply. For this reason, the Bitcoin network adjusts the difficulty of the mathematical problems miners must solve. As more miners join the network and computational power increases, the difficulty level also increases.
Bitcoin halving
In addition to increasing the difficulty of mining, the reward for Bitcoin mining is reduced by half every four years. These “halvings” are written into Bitcoin’s code and are another way to prevent inflation and ensure a steady production of BTC.
The most recent Bitcoin halving occurred in April 2024, reducing the reward for mining a block from 6.25 BTC to 3.125 BTC. The next halving is expected to occur in 2028.
Eventually there will be no more BTC to mine: The number of BTC is capped at 21 million. Assuming the rate of halvings continues every four years, the last fractions of BTC will be mined around 2140.
The role of the blockchain
The Bitcoin blockchain is a distributed database or ledger shared among a network of Bitcoin nodes (also known as full nodes, as they contain a full copy of the blockchain). These nodes are generally peer-to-peer, meaning any node can act as a server for the entire network, and they validate and propagate transactions.
A blockchain is the technology that underpins the Bitcoin network, and it keeps track of the flow of BTC among miners and users.
Here are some basic features of the Bitcoin blockchain:
Blocks: A block is a group of transactions that have been verified and added to the blockchain. Each block contains a reference to the previous block, creating a chain of blocks. Blocks are added to the blockchain through the proof of work process described above.
Transactions: Every Bitcoin transaction is recorded on the blockchain and is transparent to all users on the network. Once a transaction has had several block confirmations, it’s considered irreversible.
Transparency: The blockchain is fully transparent, meaning anyone can view the entire history of Bitcoin transactions. This transparency helps ensure trust and security.
Decentralization: The blockchain is decentralized, meaning no single entity controls it. Instead, it’s maintained by the network of full nodes that collectively verify and record transactions.
Why do BTC have value?
The value of BTC is ultimately determined by supply and demand. But why is there demand for Bitcoin in the first place? There are many factors that contribute to the value people assign to Bitcoin:
Bitcoin has the properties of money. It can be used as a store of value and a medium of exchange for goods and services. It has been used as a valid alternative to traditional government-issued currencies, and the nation of El Salvador has adopted Bitcoin as one of its official currencies. As more businesses, financial institutions, and even governments begin to accept and integrate Bitcoin into their operations, the demand for it continues to grow.
There is a low barrier to entry. Unlike traditional finance and banking institutions, Bitcoin is an open, permissionless network. This means anyone can get, hold, and start transacting with BTC. This ease of use has led to wide adoption around the globe, giving BTC a strong network effect, which leads to even more demand, creating a virtuous cycle.
There is a limited supply of BTC. The Bitcoin code restricts the rate at which Bitcoin can be mined and caps the total supply at 21 million. This scarcity contributes to its desirability as a store of value. This unavoidable cap doesn’t exist with fiat currencies, which governments can print at their discretion to cover their debts, leading to high inflation.
How to start using Bitcoin
It’s easier than you might think to start using Bitcoin for investing and transacting.
1. Get a Bitcoin wallet
The first step to owning BTC is to get a Bitcoin wallet. We previously wrote an article explaining Bitcoin wallets(neues Fenster), which are apps that use encryption(neues Fenster) to secure your Bitcoin. We recommend using one that is secure and easy to use. Cryptocurrency exchanges can be risky because you don’t actually own your BTC. And hardware wallets can be complicated for first-time users.
For most people, the cost to mine BTC is prohibitive. But it’s easy to buy BTC from an exchange using fiat currency and then transfer your Bitcoin to your wallet.
To send and receive BTC, all you need to know is a Bitcoin address — an alphanumeric string that identifies specific Bitcoin wallets. When sending BTC, you’ll enter the address of your recipient. When receiving BTC, you’ll need to share your address with the sender.
In Proton Wallet, you can transact BTC using either Bitcoin addresses or email addresses. Our goal is to make sending BTC as easy as sending an email. Learn how to send and receive BTC.(neues Fenster)
With these concepts, you can understand Bitcoin and start using digital currency. If you’d like to learn more about the benefits of our wallet app, check out our overview of Proton Wallet security(neues Fenster).
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